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Projects - Weekly snapshot

The Peruvian government reported that it is negotiating with the members of the consortium "Gasoducto Sur Peruano" different terms related to the termination of the project’s concession agreement and the delivery of the project's assets, which according to the consortium's accounting it would have an estimated value of US$ 2,500 million

According to the Peruvian government, there are still several pending issues to be resolved related to the termination of the concession agreement of the project "Gasoducto Sur Peruano", which happened earlier this year.

Among the most important points to be review, is the return of the project assets in favor of the Peruvian state, a process that to date is not yet defined because there is no specific procedure established for it and the conditions that the concessionaire has proposed to the government are not considered acceptable. According to the information provided by the consortium, the book value of the project assets is estimated at US $ 2.5 billion.

On the other hand, there is the possibility that the concessionaire may initiate a legal dispute with the Peruvian state regarding the legal interpretation of the termination of the concession agreement and the validity of certain clauses thereof after the termination. The concessionaire began a direct negotiation with the Peruvian government in order to reach an agreement on certain points, as a step prior to the initiation of an arbitration suit under the bilateral investment agreement between Peru and Luxembourg.

The Minister of Transport and Communications, Bruno Giuffra, announced that the private projects of the "Port of Salaverry", "Port of Chimbote" and "Port of San Juan de Marcona" are priority in the ministry’s plans. The Ministry is also working on the promotion of the "Third Regional Airports Group", the "Por of Ilo" and five road projects in different regions of the country

As part of the actions being implemented by the government to boost the reactivation of the economy, one of the main objectives has been to unlock large investment projects in infrastructure. However, in addition, the authorities are working on the implementation of a portfolio of additional infrastructure projects that will contribute to economic growth.

Among the main projects, the Ministry of Transport and Communications is promoting the concession of private initiatives for the development of the ports of Salaverry, Chimbote and San Juan de Marcona, which are prioritized within the government's plans. In addition, the promotion of the projects for the development of the Lambayeque and Ilo ports are under evaluation. The Salaverry port project is expected to be awarded by the end of this year or otherwise during the first quarter of 2018.

It was also reported that the ministry is working on the promotion of the "Third Group of Regional Airports", which includes a total of eight (8) airports, as well as in coordinations with Provías for the development of five (5) road projects of different regions of the country, including the construction of a new central highway.

MONDAY 09

Corporación Financiera de Inversiones reported that it will implement an investment program in the electricity and agroexport sectors. In that sense, they have applied for the correspondant authorizations for the development of the hydroelectric power plant "La Yegua" in the province of lima (Gestión).

Minera Chinalco Perú presented to the Ministry of Energy and Mines a plan of modifications for US$ 170 million to the mining project "Toromocho" (Gestión).

Transmisora Eléctrica del Sur 2 S.A. (TESUR 2) received the definitive concession for the development of electric transmission activity through the 220 kv Azángaro - Juliaca transmission line in Puno (Gestión).

FRIDAY 06

The Agriculture Commission of the Peruvian Congress reported that the Ministry of Agriculture, the Chamber of Commerce, Industry and Tourism of Ancash, the National Users Board of the Irrigation districts of Peru and the Provincial Municipality of Santa sent their reports with the favorable opinion to the law project that modifies the conformation of the board of directors of the irrigation project "Chinecas" (Gestión).

THURSDAY 05

OHL announced that it will carry out two new infrastructure projects in Peru: the "Improvement of the Moquegua - Omate - Arequipa Highway" and the "reconstruction of part of the Piura River’s riverbed", with a total investment of US$ 131 million. Both projects will be carried out in consortium with Cosapi (Gestión).

Chilean energy minister Andrés Rebolledo said that the coordination with the Peruvian government is permanent and that the transmission line between Peru and Chile is scheduled to be tendered in mid-2018 (Gestión).

WEDNESDAY 04

Odebrecht reported that the negotiations for the sale of its assets in Peru are still ongoing (Gestión).

The Congress of the Republic approved the modifications to the Emergency Decree No. 003-2017 (Gestión).

Odebrecht Latinvest S.A. filed a claim against Peru under the bilateral investment agreement between Peru and Luxembourg regarding the investments made by the Odebrecht group in Peru and its detriment with the approval of Emergency Decree No. 003-2017 (Gestión).

The companies Sempra and Tecpetrol reported that they are in conversations with financial entities in New York, as they evaluate their participation in a new tender of the project "Gasoducto Sur Peruano" (Gestión).

ISA Group of Colombia expressed its interest in participating in the concession of the 500 kV transmission lines project currently called by ProInversión, with an estimated investment of US$ 500 million (Gestión).

The Ministry of Energy and Mines announced that it is evaluating the creation of mechanisms for the participation of private capital in state electricity distribution companies (Gestión).

TUESDAY 03

The Peruvian government reported that it is negotiating with the members of the consortium "Gasoducto Sur Peruano" different terms related to the termination of the project’s concession agreement and the delivery of the project's assets, which according to the consortium's accounting it would have an estimated value of US$ 2,500 million (Gestión).

The ICCGSA Group confirmed that it has started the process of selling the shares it owns through its subsidiary ICCGSA Agroindustrial in Corporación Agrícola Olmos (Gestión).

The Spanish company Eulen reported that they are implementing an internationalization process, being Peru and Colombia the countries in which it has more interest (Gestión).

The Minister of Transport and Communications, Bruno Giuffra, announced that the private projects of the "Port of Salaverry", "Port of Chimbote" and "Port of San Juan de Marcona" are priority in the ministry’s plans. The Ministry is also working on the promotion of the "Third Regional Airports Group", the "Por of Ilo" and five road projects in different regions of the country (Gestión).